Siemens to cut 4,500 jobs worldwide
Published on: 07 May 2015 08:18 CET
Some 2,200 of the latest job cuts will be in Germany, said the Munich-based firm that employs more than 300,000 people in all.
Chief executive Joe Kaeser unveiled a mass streamlining plan in May 2014 aimed at dramatically reducing both the number of divisions and hierarchy levels within the industrial group by 2016.
The restructuring plan aims to produce savings of about one billion euros and boost profitability by focusing on certain divisions, such as energy, medical equipment and digitalised systems for industry and transport.